CySEC announced settlement of 200.000 euro with a Cyprus Investment Firm 

The Cyprus Securities and Exchange Commission (CySEC) has issued today an announcement to inform that reached a settlement with a Cyprus Investment Firm for possible violations of The Investment Services and Activities and Regulated Markets Law of 2017 – L.87(I)/2017 (the “Law”).

In accordance the announcement, CySEC, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, has the power to reach a settlement for any violation or possible violation, act or omission for which there is reasonable ground to believe that it took place in violation of the provisions of CySEC’s supervised legislation.

A settlement has been reached with the CIF Hoch Capital Ltd (the “Company”) for possible violations of The Investment Services and Activities and Regulated Markets Law of 2017 – L.87(I)/2017. More specifically, the investigation for which the settlement was reached, involved assessing the Company’s compliance with:

1. Section 5(1) of the Law, relating to the general principles for the performance of
   investment activities.
2. Section 25, paragraphs (1) and (3), of the Law relating to the general principles and
   information to clients.

The settlement reached with the Company, for the possible violations, is for the amount of €200.000. The Company has paid the amount of €200.000.

It is noted that all amounts payable from settlement agreements are considered revenue (income) of the Treasury of the Republic and do not constitute income of CySEC.

Source: CySEC

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